China: Palm Kernel Oil Market 2022

Palm Kernel Oil Market Size in China

In 2020, the Chinese palm kernel oil market decreased by -X% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2020, consumption failed to regain the momentum.

Palm Kernel Oil Production in China

In value terms, palm kernel oil production fell notably to $X in 2020 estimated in export prices. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

Palm Kernel Oil Exports

Exports from China

In 2020, overseas shipments of palm kernel and babassu oil were finally on the rise to reach X tonnes after two years of decline. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2010; however, from 2011 to 2020, exports remained at a lower figure.

In value terms, palm kernel oil exports skyrocketed to $X in 2020. Overall, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2009 when exports increased by X% year-to-year. Exports peaked at $X in 2010; however, from 2011 to 2020, exports remained at a lower figure.

Exports by Country

Vietnam (X tonnes), Zambia (X tonnes) and Mozambique (X kg) were the main destinations of palm kernel oil exports from China, with a combined X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam, while exports for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X), Zambia ($X) and Mozambique ($X) appeared to be the largest markets for palm kernel oil exported from China worldwide, together accounting for X% of total exports.

Vietnam recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2020, the average palm kernel oil export price amounted to $X per tonne, reducing by -X% against the previous year. Over the period under review, the export price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2015 an increase of X% year-to-year. Over the period under review, average export prices attained the maximum at $X per tonne in 2019, and then shrank slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Mozambique ($X per tonne), while the average price for exports to Vietnam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Zambia, while the prices for the other major destinations experienced more modest paces of growth.

Palm Kernel Oil Imports

Imports into China

In 2020, purchases abroad of palm kernel and babassu oil decreased by -X% to X tonnes for the first time since 2016, thus ending a three-year rising trend. Over the period under review, total imports indicated a measured increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Imports peaked at X tonnes in 2019, and then fell in the following year.

In value terms, palm kernel oil imports reduced to $X in 2020. In general, total imports indicated a mild expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2017 indices. The growth pace was the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Indonesia (X tonnes) constituted the largest palm kernel oil supplier to China, with a X% share of total imports. Moreover, palm kernel oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), threefold.

From 2007 to 2020, the average annual rate of growth in terms of volume from Indonesia amounted to +X%.

In value terms, Indonesia ($X) constituted the largest supplier of palm kernel oil to China, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Indonesia totaled +X%.

Import Prices by Country

The average palm kernel oil import price stood at $X per tonne in 2020, which is down by -X% against the previous year. Over the period under review, the import price saw a noticeable descent. The pace of growth appeared the most rapid in 2010 an increase of X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Malaysia ($X per tonne), while the price for Indonesia amounted to $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Source: IndexBox Platform